STAFF are preparing to open Oxford’s newest bank in the heart of the city centre.

In June the city council gave planning permission for Metro Bank to open a new branch at 4-5 Queen Street, beneath accommodation for students at Oxford University college Christ Church.

City councillors at the West area planning committee discussed concerns that the bank would be taking the place of a retail outlet but then decided to approve the application.

Now bankers are getting ready to open the branch on the ground floor of the Reef Estates’ building, which also accommodates 133 student rooms.

The opening is good news for customers who have had to endure a series of high street bank closures, including those run by NatWest.

While NatWest invested in a new branch in Cornmarket Street it removed its George Street branch and another in High Street.

Metro Bank launched in 2010 and now has branches across the south.

Its Reading and Newbury branches open from 8am until 8pm, Monday to Friday.

Iain Kirkpatrick, managing director of retail banking at Metro Bank said: “We invest in all our channels, including our stores, to give customers choice about how, when and where they do their banking and can’t wait to bring the banking revolution to the heart of Oxford with the opening of our new city centre store.

“There’s so much opportunity at Metro Bank and we can’t wait to welcome both new colleagues and new customers to the Banking Revolution and make a real difference to the way the city banks.”

Metro Bank says it offers ‘instant’ account opening, with residents able to walk out with a fully functioning account in a matter of minutes, rather than weeks.

Green city councillor Dick Wolff, who attended a planning briefing from Metro Bank bosses, said customers would welcome their opening.

He added: “They look ready to open - if vulnerable people can open an account in a straightforward way that has got to be a good thing.”

The branch will also have over 2,800 safe deposit boxes for customers to keep their valuables in, as well as free coin counting facilities.

Branches are open 8am to 6pm on Saturday and 11am to 5pm on Sundays and bank holidays. Metro Bank has not yet confirmed an opening date but staff can be seen inside the branch preparing to welcome customers.

The bank clarified earlier that to open an account, those without a home will have to provide a letter from the temporary accommodation they are staying at, and proof of identity.